Also as of January 1 ,2014, the City Council approved and the mayor signed a bud

Question

Also as of January 1 ,2014, the City Council approved and the mayor signed a budget for the Street and Highway Fund that provided for estimated revenues from the state government in the amount of $1,070,000 and appropriations of $1,065,000. Record the budget and post to the ledger. Also as of January 1 ,2014, the City Council approved and the mayor signed a budget for the Street and Highway Fund that provided for estimated revenues from the state government in the amount of $1,070,000 and appropriations of $1,065,000. Record the budget and post to the ledger.

Explanation / Answer

Cr revenues .......1070000

Dr appropriations....1065000

retained earnings....5000

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